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Vanuatu Economy 2014

SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES











Vanuatu Economy 2014
SOURCE: 2014 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 28, 2014

Economy - overview:
This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for about two-thirds of the population. Fishing, offshore financial services, and tourism, with nearly 197,000 visitors in 2008, are other mainstays of the economy. Mineral deposits are negligible; the country has no known petroleum deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, and long distances from main markets and between constituent islands. In response to foreign concerns, the government has promised to tighten regulation of its offshore financial center. In mid-2002, the government stepped up efforts to boost tourism through improved air connections, resort development, and cruise ship facilities. Agriculture, especially livestock farming, is a second target for growth. Australia and New Zealand are the main suppliers of tourists and foreign aid.

GDP (purchasing power parity):
$1.213 billion (2012 est.)
country comparison to the world: 202

$1.186 billion (2011 est.)
$1.169 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$776.4 million (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2.3% (2012 est.)
country comparison to the world: 127

1.4% (2011 est.)
1.6% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,800 (2012 est.)
country comparison to the world: 160

$4,800 (2011 est.)
$4,900 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 58.9%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 18.2%
investment in fixed capital: 26.7%
investment in inventories: 0.9%
exports of goods and services: 45.6%
imports of goods and services: -50.3%

(2012 est.)

GDP - composition, by sector of origin:
agriculture: 22.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 9.5%
services: 67.9% (2012 est.)

Agriculture - products:
copra, coconuts, cocoa, coffee, taro, yams, fruits, vegetables; beef; fish

Industries:
food and fish freezing, wood processing, meat canning

Industrial production growth rate:
2.1% (2012 est.)
country comparison to the world: 100
[see also: Industrial production growth rate country ranks ]

Labor force:
115,900 (2007)
country comparison to the world: 182
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 65%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
services: 30% (2000 est.)

Unemployment rate:
1.7% (1999)
country comparison to the world: 7
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $167.9 million
[see also: Budget revenues country ranks ]
expenditures: $182.8 million (2012 est.)

Taxes and other revenues:
21.6% of GDP (2012 est.)
country comparison to the world: 156
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-1.9% of GDP (2012 est.)
country comparison to the world: 84
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.4% (2012 est.)
country comparison to the world: 25

0.9% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
20% (31 December 2010 est.)
country comparison to the world: 60

6% (31 December 2009 est.)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6% (31 December 2012 est.)
country comparison to the world: 151

5.5% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$264.1 million (31 December 2012 est.)
country comparison to the world: 172

$239.6 million (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$610.8 million (31 December 2012 est.)
country comparison to the world: 174

$612.3 million (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$549.4 million (31 December 2012 est.)
country comparison to the world: 163

$512.6 million (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$-128.6 million (2012 est.)
country comparison to the world: 75

$-126.9 million (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$57.5 million (2012 est.)
country comparison to the world: 194

$67.4 million (2011 est.)
[see also: Exports country ranks ]

Exports - commodities:
copra, beef, cocoa, timber, kava, coffee

Exports - partners:
Thailand 41.9%, Cote dIvoire 30.5%, Japan 14.7% (2012)

Imports:
$322.6 million (2012 est.)
country comparison to the world: 196

$310.2 million (2011 est.)
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, foodstuffs, fuels

Imports - partners:
China 20.2%, Singapore 18.8%, US 15%, Japan 11.6%, Australia 10.4%, Fiji 5.2%, NZ 4.8% (2012)

Reserves of foreign exchange and gold:
$187.3 million (31 December 2012 est.)
country comparison to the world: 159

$173.8 million (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$201.8 million (31 December 2011 est.)
country comparison to the world: 186

$258.9 million (31 December 2010 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$565.1 million (31 December 2012 est.)
country comparison to the world: 101

$527.1 million (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$22.3 million (31 December 2012 est.)
country comparison to the world: 95

$23.3 million (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
vatu (VUV) per US dollar -

92.64 (2012 est.)
89.47 (2011 est.)
96.91 (2010 est.)


NOTE: 1) The information regarding Vanuatu on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vanuatu Economy 2014 information contained here. All suggestions for corrections of any errors about Vanuatu Economy 2014 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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